Consolidator Perspective Financial Group has snapped up independent financial advisory business Jones Hill, marking its 36th purchase since its inception in 2008.
Deal details
The acquisition brings £44m of client assets and 160 clients to Perspective.
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The deal value was not disclosed.
As part of the deal, Jones Hill managing director Brian Hill will quit.
Perspective will absorb other employees of Jones Hill.
Two members of the acquired firm will move to Perspective’s in-house Training Academy immediately.
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By GlobalDataThe pair will continue working towards advanced financial planning qualifications.
Hill stated: “After 15 years in financial planning, I felt it was the right time to seek new challenges.
“Although there were quite a number of interested firms, it was clear early on that Perspective’s tried and tested approach would help secure our client’s financial planning needs and provide a stepping stone for Jones Hill staff.
“It is testament to a shared ethos that we completed the entire process during lockdown and turbulent market conditions.”
Headquartered in Bradford on Avon, Wiltshire, Jones Hill focuses on advising existing and former military members.
It caters to clients in Bradford on Avon, Bath, Trowbridge, Chippenham as well as surrounding towns.
The acquired entity will now join Perspective’s Marlborough office. At the same time, it will retain its Bradford on Avon office.
Perspective CEO Ian Wilkinson said: “This acquisition is consistent with our overall growth strategy to acquire quality client banks from IFAs looking to retire or exit the industry, local to our existing office network, as well as opening new hubs in other carefully selected locations.”
Developments at Perspective
Last December, private equity firm CBPE Capital invested in Perspective.
The Jones Hill acquisition is Perspective’s first deal since this investment.
In May 2019, Perspective set up its first London office with the purchase of Thornton Springer Financial Services.
Earlier this year, Perspective acquired Investment Principles, a financial advisory firm based in northwest England.
